A smokable rod for a smoking article, such as a cigarette, possesses a co-axial or concentric construction. A longitudinally extending inner core of tobacco cut filler is positioned within a smokable rod. The outer material that circumscribes the inner core in an annular fashion is composed of a tobacco material treated with a burn suppressing agent, and the outer material acts as a substrate for an aerosol forming material. In use, one end of the smokable rod is lit, and the tobacco cut filler of the inner core burns to yield tobacco smoke. The outer material smolders, and hence thermal decomposition products of the outer tobacco material and volatilized aerosol forming material are produced. When the opposite end of the smokable rod is drawn upon, an aerosol composed of tobacco smoke, thermal decomposition products of tobacco, and volatilized aerosol forming material, is provided.